On Tuesday, shares of Alphabet Inc (GOOGL) dropped -0.31 percent to $1811.33 while Facebook Inc (FB) lost -0.76 percent to settle at $283.40. Stocks of the tech giants declined as a bill to require Facebook and Google to pay media companies for data on their websites has been introduced Tuesday by the Australian government.
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Uber Technologies Inc (UBER) fell -1.47 percent to $53.01 on the day. The technology company will sell its Uber Advanced Technologies Group autonomous driving division to start-up Aurora, the two companies reported. It is expected that the decision would help the U.S. driverless transport vehicle firm step closer to profitability. According to Reuters reports, the deal values ATG at $4 billion. Last year, ATG raised $1 billion from an investor consortium including Toyota Motor Corp and SoftBank Group Corp for a $7.25 billion valuation. At the same time, Uber will spend $400 million in Aurora, a start-up estimated at $10 billion. 26 percent of Aurora will be owned by Uber.
AutoZone Inc (AZO) dropped -5.29 percent to $1095.99 despite posting beating results. In the face of the pandemic, the company overcame expectations for the first fiscal year. For the quarter ended, the Memphis-based auto equipment retailer posted net income of $442 million, or $18.61 per share, up from $350 million a year earlier. Up from $2.79 billion a year ago, sales totaled $3.15 billion. The consensus was $17.8 EPS and sales of $ 3.15 billion.
Northrop Grumman Corporation (NOC) rose +0.32 percent to $301.96 at ring of the bell on Tuesday. The U.S. defense contractor will sell federal IT service activities to private equity company Veritas Capital for $ 3.4 billion in cash. These activities reflect this year’s revenue of $2.3 billion. The unit of Northrop will be paired with the firm Peraton of Veritas.
Apple Inc (AAPL) was a bit up +0.51 percent to $124.38 on the day. The Cupertino’s Californian Giant launched the AirPods Max on Tuesday, a new-generation headphones proposed for a modest $549. The Apple group also specifies that from December 14, its Apple Fitness+ fitness subscription service will be introduced at $10 per month.
